Total income of Mr. K is ₹5,80,000 for the financial year 2020-21 (Including ₹80,000 for salary after standard deduction and ₹5,00,000 for lottery winning-gross). what will be tax liability for the Assessment Year 2021-2

CS Executive · Tax Laws and Practice · PYQS · December 2021
Total income of Mr. K is ₹5,80,000 for the financial year 2020-21 (Including ₹80,000 for salary after standard deduction and ₹5,00,000 for lottery winning-gross). what will be tax liability for the Assessment Year 2021-22?
(A) ₹29,640
(B) ₹1,02,960
(C) ₹1,56,000
(D) None of the above

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic